UBS Group Reaffirms Neutral Rating for Portland General Electric (NYSE:POR)

UBS Group reiterated their neutral rating on shares of Portland General Electric (NYSE:POR - Free Report) in a research note published on Friday, MarketBeat Ratings reports. They currently have a $47.00 price objective on the utilities provider's stock, down from their prior price objective of $52.00.

POR has been the topic of a number of other reports. JPMorgan Chase & Co. lifted their price objective on shares of Portland General Electric from $54.00 to $55.00 and gave the company an "overweight" rating in a report on Wednesday, October 23rd. Jefferies Financial Group started coverage on shares of Portland General Electric in a research report on Friday, September 20th. They set a "hold" rating and a $48.00 price target on the stock. Evercore ISI started coverage on Portland General Electric in a research report on Wednesday, September 25th. They issued an "outperform" rating and a $54.00 target price on the stock. Bank of America dropped their target price on Portland General Electric from $46.00 to $43.00 and set an "underperform" rating on the stock in a report on Tuesday, December 24th. Finally, Barclays decreased their price target on Portland General Electric from $49.00 to $48.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $48.88.

Portland General Electric Stock Down 0.1 %

POR stock traded down $0.06 during trading hours on Friday, reaching $43.15. 1,684,053 shares of the stock were exchanged, compared to its average volume of 1,408,076. The firm's 50-day moving average is $45.91 and its 200-day moving average is $46.31. Portland General Electric has a 12 month low of $39.13 and a 12 month high of $49.85. The company has a market cap of $4.55 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.13 and a beta of 0.59. The company has a debt-to-equity ratio of 1.28, a current ratio of 0.98 and a quick ratio of 0.86.

Portland General Electric (NYSE:POR - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The utilities provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.89 by $0.01. Portland General Electric had a return on equity of 10.28% and a net margin of 10.30%. The business had revenue of $929.00 million during the quarter, compared to the consensus estimate of $882.66 million. During the same period last year, the company earned $0.46 earnings per share. Portland General Electric's quarterly revenue was up 15.8% on a year-over-year basis. On average, equities research analysts expect that Portland General Electric will post 3.11 earnings per share for the current year.

Portland General Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 24th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.63%. The ex-dividend date is Tuesday, December 24th. Portland General Electric's payout ratio is 59.70%.

Hedge Funds Weigh In On Portland General Electric

Institutional investors and hedge funds have recently modified their holdings of the business. State Street Corp boosted its stake in shares of Portland General Electric by 1.6% in the third quarter. State Street Corp now owns 4,123,279 shares of the utilities provider's stock valued at $199,509,000 after buying an additional 66,438 shares during the period. Geode Capital Management LLC raised its holdings in Portland General Electric by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,444,486 shares of the utilities provider's stock valued at $117,114,000 after acquiring an additional 25,332 shares in the last quarter. Zimmer Partners LP lifted its position in shares of Portland General Electric by 107.0% during the 3rd quarter. Zimmer Partners LP now owns 1,842,542 shares of the utilities provider's stock valued at $88,258,000 after acquiring an additional 952,214 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Portland General Electric by 6.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,508,666 shares of the utilities provider's stock worth $65,234,000 after purchasing an additional 86,718 shares in the last quarter. Finally, HITE Hedge Asset Management LLC increased its position in shares of Portland General Electric by 7.1% in the second quarter. HITE Hedge Asset Management LLC now owns 1,485,099 shares of the utilities provider's stock worth $64,216,000 after purchasing an additional 97,922 shares during the period.

About Portland General Electric

Portland General Electric Company, an integrated electric utility company, engages in the generation, wholesale purchase, transmission, distribution, and retail sale of electricity in the state of Oregon. It operates six thermal plants, three wind farms, and seven hydroelectric facilities. As of December 31, 2023, the company owned an electric transmission system consisting of 1,254 circuit miles, including 287 circuit miles of 500 kilovolt line, 413 circuit miles of 230 kilovolt line, and 554 miles of 115 kilovolt line; and served 934 thousand retail customers in 51 cities.